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论文编号：	620
作者编号：	2120062010
上传时间：	2008/6/20 1:55:44
中文题目：	董事会特征对多元化经营影响的实
英文题目：	An Empirical Study on how boar
指导老师：	薛有志
中文关键字：	董事会特征;独立董事;多元化
英文关键字：	Board characteristics;Independ
中文摘要：	我国上市公司只有短短二十多年的发展史，在公司治理结构方面还存在着很多问题，尤其是在董事会结构方面。随着上个世纪五十年代多元化战略的提出，多元化战略已经被我国企业所广泛应用。公司治理结构对企业多元化战略影响问题，已经受到各界广泛关注，尤其是董事会特征对多元化战略影响问题，更成为理论界以及企业界关注的焦点。 董事会作为联结股东与经理层的纽带，是公司治理机制的重要组成部分。它不仅是公司决策的核心，也是公司监控的关键机构。同时董事会的事前与事中监督，相对于监事会的事后监督，更有利于风险的规避、代理成本的降低，无疑对企业多元化战略的制定实施产生很大的影响。 在我国，董事会作为一种新型的治理机制，其对公司多元化战略的制定实施影响如何?是否发挥了其应有的作用?本研究试图以我国A股上市公司为例，从实证角度分析董事会特征对多元化经营的影响，从而为完善董事会制度、降低代理等成本，提高公司经营绩效提供一定的参考。 本研究将董事会作为一种监控工具，探讨它对于多元化战略制定实施的影响，努力寻找最佳的董事会制度，不断完善多元化公司的治理结构。本研究首先对董事会、多元化等相关概念、董事会特征对多元化经营影响的研究，进行了理论回顾。并且提出了将董事会特征做为一种组织结构安排，影响多元化战略制定实施，最后影响公司绩效这样一条传导路径。分别对董事会特征对公司绩效，多元化对公司绩效的影响的研究进行了文献梳理。提出理论假设，选取上海证券交易所上市的公司为初始样本，并对样本进行了筛选，选取2001年以前上市的79家上市制造业企业做为样本。应用相关性分析、多元回归研究方法，对董事会的规模、董事会结构（包括董事会中内部董事、外部董事、独立董事）、董事会领导权结构和多元化之间的关系进行相关性、多元回归分析，对假设进行了检验。并基于以上分析结果，提出了完善董事会制度建设的建议。
英文摘要：	Listed companies has more than 20 years history in Our country, but the Corporate governance structure of listed companies still have many problems, particularly in board structure. Along with the 1950s, diversification Strategy has been put forward, diversification Strategy already widespread use by the many chinese corporations. The probloms of how the company management structure affect the diversification strategy has become a focal question from all walks of life, In particular, the probloms of how the board characteristics affect the diversification strategy became the focal point of attention in theoretical circles and business. Being a hinge of shareholder and the managers, board is an important component of the corporate governance structure. Board is not only the core of decision-making, but also key institutions in control. At the same time，the monitor and supervision in advance, contrast to the post-supervision will be a favor to avoid risk, reduce agency costs. Without doubt that board has the very tremendous influence on the establishment and implement of diversification Strategy. In our country, the board of directors as one kind of new government mechanism, how does it affect to the company diversification strategy 's implementation？ whether it have played its proper role? This thesis attempts to take listed companies as an example, from the angle of empirical analysis，analyse the influence of board of directors’s characteristic to diversification strategy ,to improve the system of board of directors, reduces costs, provide certain reference to enhances the company’s management. This thesis takes board of directors as one kind of monitoring tool，discusses its influence on the formulation of diversification strategy, seeks for the best board of directors system diligently, Continuously improve the Corporate Governance Structure. This thesis first review the theory on board of directors, the diversification strategy and so on related concept, and the research on how board of directors characteristic influence the diversification strategy. And proposed along the conduction way which take the board of directors characteristic as one kind of organizational structure arrangement, affects the diversification strategy’s formulation and implementation, finally affects the company achievements . Review the theory about the influence the board of directors characteristic take on company achievements , and the diversification strategy take on company achievement. Proposes the theory supposition, selects the listed company on Shanghai stock market as initial sample, and carried on screening data of the sample－listed before 2001, be manufacturing industry enterprise.Applicate Correlation-analysis methods carries on the Correlation analysis, test the assumptions. Based on above, put forward some Suggestions on improve system of board structure.
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